Bankruptcy and non bankruptcy alternatives are available for those faced with financial difficulties. Both can be very effective and inexpensive debt solutions allowing you to obtain a fresh start.
Bankruptcy
The Bankruptcy Code may allow you to obtain a fresh start, get out of debt and reclaim your financial independence. Bankruptcy can prevent and stop creditors including; creditor harassment, wage garnishment, lawsuits, repossession, foreclosure, bill collectors, personal loans, credit card debt and bank account levy. Common consumer bankruptcy options include Chapter 7 Bankruptcy often referred to as straight bankruptcy and Chapter 13 Bankruptcy often referred to as a wage earner plan, debt consolidation or a debt reorganization plan. Both may allow you to obtain a fresh start by eliminating or reorganizing existing debt.
Chapter 7 Bankruptcy may be available if you do not have enough income to repay your existing creditors or to fund a Chapter 13 Bankruptcy plan. Under Chapter 7 Bankruptcy you are able to keep exempt property under the governing law. In many cases everything an individual owns is exempt.
Chapter 13 Bankruptcy may be available if you have sufficient and regular income to fund a Chapter 13 Plan. You may be eligible to reorganize, consolidate and reduce your debt under the plan. The plan may allow you to repay certain debts and little or nothing to others.
Debt Negotiation
Debt negotiation is a non bankruptcy alternative which may allow you settle for less than the full balance owed. Debt negotiation can be an effective way to obtain a debt settlement and avoid bankruptcy.
Loan Modification
Loan modification may allow you to renegotiate your monthly mortgage payment, interest rate and or length of you loan. The lender may agree to change the terms of your loan to make payments more affordable to you.
Whether you need bankruptcy or a non bankruptcy alternative, payment plans are available to assist you in debt reduction solutions and obtaining a fresh start . Call for a free consultation. Weekday, weekend and evening appointments are available.
Call now for a free consultation.
San Diego, CA (619) 696-7444
North County San Diego, CA (760) 747-9978
